COINOTAG news reported on September 16 that the DEGOD token from DeGods has officially commenced trading. It is currently valued at $0.006524, achieving a market capitalization of $65.3 million with $9.1 million in trading volume within the first hour. Earlier, the Solana NFT project DeGods announced a collaboration with the NFT marketplace Sniper to launch the DEGOD token, amalgamating their ecosystem into a single asset. A Bonding Curve mechanism is slated for implementation around 6:33 (UTC+8) on September 16.
In terms of its tokenomics, each DeGods NFT can be exchanged for 550,000 tokens, while each y00ts (Fuzzy DeGods) NFT can be converted into 120,000 tokens. Furthermore, each DUST token can be converted to 36 tokens. A significant 85% of the tokens will be allocated to NFT holders, 10% to the foundation, 3% for the Bonding Curve, 1% for initial liquidity, and 1% to the partner Solana network NFT market Sniper.